Brokerages Anticipate National Retail Properties, Inc. (NYSE:NNN) Will Announce Quarterly Sales of $146.93 Million

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Brokerages expect National Retail Properties, Inc. (NYSE:NNN) to post $146.93 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for National Retail Properties’ earnings. The highest sales estimate is $171.20 million and the lowest is $105.80 million. National Retail Properties reported sales of $164.60 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, August 6th.

According to Zacks, analysts expect that National Retail Properties will report full-year sales of $640.98 million for the current financial year, with estimates ranging from $548.73 million to $682.79 million. For the next fiscal year, analysts expect that the business will post sales of $686.16 million, with estimates ranging from $642.30 million to $713.98 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover National Retail Properties.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.35 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.06). The firm had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $174.35 million. National Retail Properties had a return on equity of 7.10% and a net margin of 40.44%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share.

A number of analysts have recently issued reports on the stock. Citigroup boosted their target price on shares of National Retail Properties from $28.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James lowered their target price on shares of National Retail Properties from $62.00 to $44.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Morgan Stanley lowered their target price on shares of National Retail Properties from $56.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Wells Fargo & Co lifted their price objective on National Retail Properties from $37.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, ValuEngine upgraded National Retail Properties from a “sell” rating to a “hold” rating in a report on Friday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $46.63.

A number of institutional investors have recently made changes to their positions in NNN. Amundi Pioneer Asset Management Inc. boosted its position in National Retail Properties by 23.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 324,140 shares of the real estate investment trust’s stock valued at $17,955,000 after buying an additional 61,130 shares during the last quarter. Victory Capital Management Inc. boosted its position in National Retail Properties by 12.0% in the 4th quarter. Victory Capital Management Inc. now owns 3,169,129 shares of the real estate investment trust’s stock worth $169,928,000 after purchasing an additional 338,686 shares in the last quarter. Bank of Montreal Can boosted its position in National Retail Properties by 11.9% in the 4th quarter. Bank of Montreal Can now owns 132,568 shares of the real estate investment trust’s stock worth $7,108,000 after purchasing an additional 14,076 shares in the last quarter. CI Investments Inc. purchased a new stake in National Retail Properties in the 4th quarter worth approximately $195,000. Finally, Mutual of America Capital Management LLC boosted its position in National Retail Properties by 1.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 154,161 shares of the real estate investment trust’s stock worth $8,266,000 after purchasing an additional 1,533 shares in the last quarter. Institutional investors and hedge funds own 90.91% of the company’s stock.

Shares of NNN traded down $0.49 during trading hours on Wednesday, reaching $36.51. 2,453,693 shares of the company traded hands, compared to its average volume of 1,759,376. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 10.21 and a beta of 0.65. National Retail Properties has a 12-month low of $24.04 and a 12-month high of $59.26. The company has a current ratio of 6.00, a quick ratio of 6.00 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average price is $34.47 and its 200 day moving average price is $42.55.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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Earnings History and Estimates for National Retail Properties (NYSE:NNN)

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